Egypt’s Richest Man Scoops Up the City’s Most Expensive Co-op for $70 Million
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Egypt’s Richest Man Scoops Up the City’s Most Expensive Co-op for $70 Million

June 6, 2014

David Geffen has been dethroned as the person to have spent the most on a co-op in NYC, ever. Egyptian billionaire, a.k.a. the richest man in Egypt, Nassef Sawiris closed on the pad at 960 Fifth Avenue this afternoon through a listing held by Brown Harris Stevens.

The penthouse apartment was originally going for $65 million earlier this spring, but power brokers Mary Rutherfurd and Leslie Coleman of Brown Harris Stevens managed to squeeze an extra $5 million out of Sawiris in a bidding war. Funnily enough, 960 has been cited as one of the city’s ‘A-plus’ buildings, and in 1997 a New York Times article wrote that most residents in the building “are worth over $100 million” and that apartments cost about $15 million — my how times have changed!

Egyptian Billionaire Nassef Sawiris 960 5th Ave

The luxurious digs boasts five bedrooms and eight bathrooms with a wraparound terrace with incredible view of the park and the cityscape. The apartment apparently needs some work, but surely nothing out of reach of Sawiris.

Egyptian Billionaire Nassef Sawiris 960 5th Ave

More images of the opulent abode in our gallery.

[960 Fifth Avenue by Brown Harris Stevens]

[Via CityRealty]

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All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

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